The number of finance jobs to be moved out of Great Britain overseas by March 2019 can be 5000 instead of 10000, earlier expected, Reuters reports referring to the survey of 119 companies.
According to Reuters survey, Paris has overtaken Frankfurt as the most popular destination for the new roles. More than a half of companies surveyed said that they would have to move their employees or restructure their businesses due to Brexit. A quarter of the respondents said Brexit would have no impact, and the rest said they didn’t know or were still thinking over their plans.
The predicted number of workers to be shifted out of Great Britain was reduced because some banks had considered more carefully how much of their operations they would need in the European Union if Britain loses access to the single market
These data also suggest that London will likely remain Europe’s financial center, at least in the short run. The outcomes of the last EU and Britain's’ negotiations on Brexit also had a positive impact on the estimates.
Britain and the EU agreed on March 19 to a transition period of 21 months to give time for discussions on future trade ties. The deal eases markets concerns about a “hard” Brexit.
According to the survey of UK companies, 5000 of jobs will be moved out of Great Britain overseas by March 2019